Inflation continues to roar as producer price index sets new record

 PJ Media:

Producer prices increased a colossal 10% over a year prior in February, according to the latest Producer Price Index report from the Bureau of Labor Statistics. This is the first time the index hit double digits since the inception of the Producer Price Index in 2010.

“That was a slightly faster pace of price increases than economists had predicted,” reports CNN Business.

Last month Matt Egan of CNN Business predicted that the Russia-Ukraine conflict could cause inflation to hit 10% … But it turns out we didn’t need the Russia-Ukraine conflict to achieve that grim milestone. As part of this new report, the January Consumer Price Index was revised upward from 9.7% to 10%.

...

It seems even higher if your main two stops are the gas station and the grocery store.  With this kind of inflation, there won't be a lot of room in budgets for anything else. 

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